Odisha Launches Big City Plan Near Bhubaneswar
Vision and Strategic Framework
Odisha’s cabinet has approved an 800-acre 'New City' project near Bhubaneswar, marking a big change in eastern India’s urban scene. With a huge Rs 8,179 crore investment over 15 years, this project, developed with Singapore, aims to change smart city living while tackling Bhubaneswar’s rapid population growth. Taking inspiration from Gujarat’s Dholera model but customized for Odisha’s socio-economic needs, the initiative supports the state’s "Odisha 2036" goal of becoming a developed economy.
Core Features and Infrastructure
The project includes many high-impact parts meant to draw global businesses and residents:
- Mixed-Income Housing: Affordable homes for low-income groups and premium residences, ensuring "housing for all" through transit-oriented design principles.
- MICE Infrastructure: World-class convention centers for international business events and boosting tourism.
- Green Urban Spaces: Extensive parks and eco-zones integrated into the city layout, prioritizing sustainability alongside skyscrapers and commercial hubs.
- Sports and Innovation Hubs: State-of-the-art athletic facilities and data management centers to engage youth and promote tech entrepreneurship.
Singapore’s Surbana Jurong Infrastructure will offer master planning expertise under an MoU signed during the Singaporean President’s January 2025 visit, ensuring best practices in tropical urban design.
Phased Investment Strategy
The funding plan shows smart financial planning:
- Initial Phase (2025-30): Rs 1,342 crore for land acquisition, road networks, and core utilities in Gothapatna, Malipada, and Daspur mouzas.
- Long-Term Horizon: Remaining funds will use public-private partnerships to develop sports complexes, IT corridors, and retail ecosystems.
- Job Creation: Expected to create thousands of jobs in construction, hospitality, and tech sectors, speeding up regional economic diversification.
Real Estate Market Implications
Property stakeholders should be aware of three key changes:
- Land Value Increase: Properties located near the 65 km ring road and the proposed transit corridors are expected to appreciate as infrastructure develops.
- Demand Shift: Mid-segment housing near MICE zones may outperform luxury markets due to business traveller influx.
- Regulatory Changes: BDA’s new fast-track approval system (announced alongside TP Scheme-8) will cut development timelines by 30-40%, attracting national builders.
Pro Tip for Investors: Watch the land pooling progress under TP Scheme-8 – early-phase contributors keeping 60% developed land could see 200%+ returns by 2030 as nearby infrastructure activates.
Conclusion
This isn’t just a new satellite town. By blending Singapore’s urban excellence with Odisha’s cultural identity, the New City project sets a model for sustainable growth in India’s eastern corridor. For real estate pros, the chance to secure strategic positions before major construction phases start is open for just 12-18 months.